Some Social Security beneficiaries could find themselves penny pinching this month when their check hits their bank account this week.

Modest to meaningful Social Security payout reductions are on the way for approximately 2 million retired workers, survivor beneficiaries, and workers with disabilities.

Many Americans may see smaller Social Security payments due to student loan defaults. The government can deduct up to 15%. For June 2025, Supplemental Security Income payments were issued early on May 30.